Axis Asset Management Company (Axis AMC) and Tishman Speyer said that Axis Commercial Real Estate Fund, a category II AIF, has acquired 1.5 acre plot in Fintech City, Nadambakkam, Chennai.
The acquisition was made through a bid cum e-auction process conducted by the Tamil Nadu Industrial Development Corporation (TIDCO).
The plot will be transformed into a four lakh sq ft Grade A office building within the next three years.
In June 2024, the fund concluded its fundraising with a corpus of around Rs 550 crore.
Over the last seven years Axis AMC has raised Rs 6,000 crore across its PMS and AIF businesses while Tishman Speyer has acquired, developed, and operated 557 properties, totaling 226 million sq ft, with a combined value of over $128 billion.
